August 1, 2020
~ Michael Atwood
This is the first 6 months real estate report for 2020 which includes sales for all Barefoot Resort properties. This includes both the Residential and the Non-Residential properties.
Barefoot Single Family Homes
|YTD TOTALS||CURRENT ACTIVE||PENDING|
|PRICING||$393,155 (average sales price)|
(*This includes all active, sold, pending, & expired properties)
As a comparison to the previous year the number of sales and average sales price is higher than the same as the previous year as more higher priced homes sold during this year in Barefoot Resort. The number of available properties was down slightly as compared to the previous year and the properties are selling at a slower rate compared to 2019. During 2020 the sales rate per month is 5.42 which are slightly lower than the same sales per month as compared to the previous year. We currently only have around 2.2 months inventory of homes available in the Barefoot Community based upon that sales rate per month. We have 12 homes pending now for this year and that is the same as the previous levels during the same time in 2019.
We remain optimistic for the upcoming year as interest rates continue to remain lower compared to the same time last year. Now is a great time to place your property on the market if you are looking to sale your home here in Barefoot Resort. If you have friends or relatives looking to purchase here then it’s time to get them here in order to get the best price for homes that are currently on the market. The market overall remains strong in our area and especially in North Myrtle Beach.
(*This includes all active, expired, pending, and sold properties)
Pricing is about the same from the previous year with overall prices having increased by 5% compared to last year. The year to date average monthly sales rate for condominium and townhomes is 20 sales per month. We currently have around 3.35 months of condominiums available for sale in the Barefoot Resort Community based upon the amount of inventory and the current rate of sales per month.
We continue to remain optimistic about the market for the rest of this year. The current interest rates are slightly lower as compared to this same time last year. If you are looking to sell now it is a good time for condominium sales as compared to the same time last year. So if you are considering selling during this time of the year then it’s a good time to get your property on the market based upon current sales levels and pending transactions.
Six of the available buildable lots are in the Dye Estates with one lot available in Tuscan Sands. With the current rate of purchase we still have about a years’ worth of available inventory based up the current monthly sale rates.